LAS VEGAS, June 3 Cord Blood America, Inc. (OTC Bulletin Board: CBAI), announced today that its groundbreaking "Afford-A-Cord" program, which reduces the initial cost of storing umbilical cord blood stem cells from $2075 to $495 plus medical courier service, will be launched on June 14, 2010 rather than July 1, 2010, as previously announced.
"Because of the overwhelmingly positive response to CBAI's initial announcement, we pushed the last two weeks to launch early. It wouldn't be fair for a parent to miss out on the program because of simple lag time. We have been able to button up all the details on the plan, which we believe will allow more people to take advantage of this important medical insurance policy," said Matthew Schissler, Cord Blood America co-founder and CEO.
The launch of the flexible payment plan in the second quarter of 2010 coincides with two other important events occurring in this three-month period. Cord Blood America began to book revenues in the beginning of Q2, from stellacure GmbH (www.stellacure.com) , the major German stem cell company of which Cord Blood America acquired 51 percent, and from the sale of placentas to a well-known tissue bank in the U.S. Second quarter financial results are scheduled to be released in August 2010. "We believe the second quarter will be the largest Cord Blood revenue quarter we've experienced," Mr. Schissler said.
"On the technology front, we are also pleased to announce that starting in July, CorCell will begin using Pall Medical Cord Blood Sterile Collection Bag for initial storage and delivery. These sterile bags are superior to anything else in the marketplace including what most of our competitors use," Mr. Schissler said. "It gives us a technologically competitive edge over most in the industry. The FDA NDA approved bag maximizes cell counts in a sterile environment."
Finally, the Company is pleased to announce the appointment of Lydia Coleman as Laboratory Director (www.corcell.com). Ms. Coleman has more than 30 years experience working in all facets of clinical laboratories and extensive experience in healthcare management implementing compliance with state and Federal regulations. She is licensed by Nevada as a General Supervisor and certified by the ASCP as a Medical Technologies/Clinical Laboratory Scientist. "CBAI is committed to the highest level of quality and regulatory compliance. We are pleased to have Lydia guiding our entire laboratory operation," Cord Blood America's CEO said.
Cord Blood America is the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally,
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.com.
CONTACT: Paul Knopick E & E Communications 949/707-5365 [email protected]
SOURCE Cord Blood America, Inc.